Pen, Mehul Kumar case hearing on 11 October


MUMBAI: Pen Ltd.’s Jayantilal Gada’s case of cheat and cheque bounce filed against director Mehul Kumar will be heard in Bandra court on 11 October.  


In 2000, Gada had agreed to finance Kumar for three movies viz. Kitne Door Kitne Paas, Kabhi Kabhi Aisa Bhi Hota Hai and Mr. Black Mr. White. While the first two got made, only Kitne Door Kitne Paas was released; the latter films got shelved.


According to Gada,  Kumar owed Rs. 6.40 crores to Gada, off which he returned Rs 40 lakhs, which he took on account for Mr. Black Mr. White. For the balance Rs 6 crore, Kumar kept paying an interest at the rate of 24 per cent to Gada, till he kept receiving the principal amount fro him.


Pen Ltd., Managing Director, Jayantilal Gada says agitatedly, “After an accumulated interest of such a long period, the total amount due was Rs 16.43 crore, which Kumar had failed to pay. So in a settlement we reached an agreement wherein Kumar would only pay us half the amount, Rs 8.11 crore, in two installments. But he did not even do that.”  


“In an MOU signed by Kumar and us, he was also liable to give possession of Mehul Multiplex in Jamnagar against the failure of payment till 15 October, 2006. But Kumar instead, went ahead and leased the property to Adlabs for five years,” added Gada.  


In retaliation, Kumar said, “The matter is in court; hence I will not be able to share details. But all I can say is I have paid the due amount and he has misused my security cheques. I have never signed an MOU with Gada. He is doing all this because he is eyeing my multiplex.”